16 December 2022
Visiongain has published a new report entitled Contract Manufacturing Outsourcing (CMO) of Sterile Injectable Drugs Market Report 2022-2032: Forecasts by Molecule Type (Small Molecule, Large Molecule), by Type (Monoclonal Antibodies (mAbs), Cytokines, Insulin, Peptide Hormones, Vaccines, Immunoglobulins, Blood Factors, Peptide Antibiotics, Others), by Application (Cancer, Diabetes, Cardiovascular Diseases, CNS, Infectious, Others), by Container Type (Bottles, Ampoules, Vials, Pre-filled Syringes, Bags), by Route of Administration (Subcutaneous (SC), Intravenous (IV), Intramuscular (IM), Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The CMO of sterile injectable drugs market was valued at US$19,090.4 million in 2021 and is projected to grow at a CAGR of 9.10% during the forecast period 2022-2032.
Rising Investment in Infrastructure and Drug Development to Boost Market Development
Significant financial investment is necessary for the production process and equipment required for sterile injectables. Due to a lack of capital, numerous pharmaceutical businesses in the United States and Europe have approached other corporations for investment. Jubilant Pharma, a fully owned subsidiary of Jubilant Pharmova, said in June 2021 that it will invest US$92 million in increasing sterile injectable production capacity at its Spokane facility. In this investment, 400 vials of injectable filler will be placed in Spokane, increasing the facility's capacity by 50%. Moreover, Pfizer announced in December 2022 that it was investing $750 million to expand its sterile injection facilities in the United States. Kalamazoo is one of Pfizer's largest plants and produces more than 144 pharmaceutical products, including sterile injectables, liquids, and semi-solids. As a result of these factors, the sterile injectables market is projected to grow over the forecast period.
How have Expanding Clinical Trial Opportunities in the Asia Pacific Region had a Positive Impact on the Contract Manufacturing Outsourcing (CMO) of Sterile Injectable Drugs Market?
The clinical trials business is seeing rising demand due to a growth in the number of modern medical technologies and an increased need for novel pharmaceuticals. Furthermore, the medication development process is fraught with danger for pharmaceutical and biotechnology firms, with substantially lower approval rates and accompanying expensive expenditures. This constrains the clinical trials market's growth. As a result, outsourcing clinical trials to contract research organisations (CROs) has been shown to result in considerable time and cost savings for sponsors, allowing them to focus on drug discovery and improve their market prospects.
How will this Report Benefit you?
Visiongain’s 357-page report provides 131 tables and 180 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the CMO of sterile injectable drugs market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Contract Manufacturing Outsourcing (CMO) of Sterile Injectable Drugs. Get financial analysis of the overall market and different segments including molecule type, type, application, container type, route of administration, and capture higher market share. We believe that there are strong opportunities in this fast-growing CMO of sterile injectable drugs market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increasing demand for biologicals is expected to drive the demand is Driving the Market Growth
The increase in the number of complicated pharmaceuticals, as well as the rising need to reduce R&D expenditures, are likely to lead to increased demand, consequently contributing to market growth. Increased R&D outsourcing and CDMO proficiency are predicted to contribute to life science businesses' increased demand for contract production of sterile injectables. Vendors in growing markets, such as India and China, provide CDMO services at reduced rates, which leads to manufacturing outsourcing.
Pre-filled Syringes to Offer Lucrative Growth Prospects
Prefilled syringes are often used to treat chronic conditions including heart disease, diabetes, and autoimmune illnesses where patients must self-administer medications. As a result, the market for prefilled syringes is being driven forward by the global increase in the incidence and prevalence of chronic and lifestyle diseases. The demand for self-injection devices is also rising as a result of the simplicity and safety of their use. The desire for effective and user-friendly medication delivery systems is one factor driving the market expansion, in addition to doctors' increased attempts to decrease hospital blunders. The rapid development of feature-rich devices with underpinning technology improvements that make patients' self-injections safer and more convenient will drive market expansion throughout the projection period.
Where are the Market Opportunities?
Growing Investment In Technically Sophisticated Sterile Injectable Pharmaceutical Production Facilities is Expected to Propel the Market Growth
Growing investment in technically advanced sterile injectable pharmaceutical manufacturing facilities will boost the global CMO of sterile injectable medicines market. For instance, in April 2022, the Delpharm Company plans to invest US$29.7 million in a sterile line for manufacturing prefilled syringes. Delpharm commenced construction on a new building devoted to the manufacturing of these dosage forms in April 2021, with production slated to begin by the end of the first quarter of 2023. The Delpharm Tours facility will be outfitted with cutting-edge technology, including as isolator technology, and will be capable of producing 25 million to 30 million syringes per year.
The major players operating in the CMO of sterile injectable drugs market are Adare Pharma Solutions; Aenova Group; Almac Group; Avara Pharmaceutical Services, Inc.; Baxter International Inc.; Boehringer Ingelheim International GmbH; Catalent, Inc.; CordenPharma; Eli Lilly and Company; Evonik Industries AG; F. Hoffmann-La Roche Ltd.; FAMAR Health Care Services; Fresenius Kabi Ag; Grifols SA; Hikma Pharmaceuticals PLC; Jubilant Pharmova Ltd.; Lonza; Nexus Pharmaceuticals, Inc.; Patheon, Inc. (Thermo Fischer); Pfizer CentreOne; Recipharm AB; and Siegfried Holding AG. These key players operating in the CMO of sterile injectable drugs market have adopted different strategies comprising collaborations, regional expansion, M&A, investment in R&D, and new product launches.
• In January 2022, Pharmaron Beijing Co., Limited acquired Aesica Pharmaceuticals Limited from Recipharm group.
• In January 2022, Forbion, together with Lonza, announced the extension of their collaboration to include the development and manufacturing of small molecules.
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